Manuka Resources Limited (Manuka) refers to the announcement titled 'TTR's Taranaki VTM Project in NZ Govt's Fast Projects List', dated and released on 7 October 2024 (7 October Announcement).
On page 1 of the 7 October Announcement, the following statement was made in relation to future revenue: 'It is of national significance we have identified a world-class vanadium rich iron sands resource that has the ability to contribute $1 billion annually to export earnings, ...' Manuka wishes to formally retract/withdraw the specific revenue comment the ability to contribute $1 billion annually on the basis: (a) The comment represents forecast financial information for the purposes of the ASX Listing Rules but has not been reported in accordance with the requirements of the Listing Rules and the JORC Code; (b) Given production targets have not been derived, Manuka does not have a reasonable basis to provide this information and (c) Investors are not to rely on the forecast financial information as a basis for any investment decision concerning the Company. Manuka wishes to clarify the reference to revenue was in relation to New Zealand's export earnings and economy and states: 'The New Zealand government has identified Manuka's world-class vanadium rich iron sands resource project as one of national significance that has the ability to contribute to New Zealand's economy and export earnings and to the Government's resource objective of doubling the value of New Zealand's mineral exports to $2 billion by 2035.'
Contact:
Dennis Karp
Executive Chairman
Tel: +61 412 268 114
About Manuka Resources Limited
Manuka Resources Limited (ASX: MKR) is an Australian mining and exploration company with key gold and silver assets located in the Cobar Basin (NSW), and offshore vanadium and titanium bearing iron sands in the South Taranaki Bight of New Zealand.
Compliance Statements
The information in this presentation that relates to previously reported Exploration Results, Exploration Targets, Mineral Resources, Ore Reserves, Production Targets and Financial Forecasts is extracted from the Company's ASX announcements noted in the text of the presentation and are available to view on the Company's website. The Company confirms that, other than mining depletion, it is not aware of any new information or data that materially affects the information included in the original announcements and, in the case of estimates of Mineral Resources and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changes. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially altered.
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